Your feeling that it's going lower before moving higher again is in line with TA probabilities - there's lots of sell pressure and that's seen pretty much across the board of my technical analysis toolbox. Right now lots of symmetrical triangles have broken down. The target on the BTC breakdown is roughly 7,500, right at the lower support of the huge range depicted on the chart in my post, and the complete TA picture suggests that this could be an overextended short term low as well. Triangles are also quite often located towards the end of a move.